Governor of Gujarat’s portfolio gains Rs 9,64,81,20,000 in just 1 day as multibagger stock jumped 13 per cent!

However, one stock managed to steal the spotlight in a manner reminiscent of Maxwell's heroics

Amidst the resounding cheers inspired by Maxwell's extraordinary cricketing performance, the broader market indices reverberated with enthusiasm on Wednesday, as Nifty Mid-Cap and Small-Cap indices soared by 0.99 and 0.70 per cent, respectively.

However, one stock managed to steal the spotlight in a manner reminiscent of Maxwell's heroics – Gujarat Mineral Development Corporation Ltd. (GMDC). GMDC, a prominent player in the mining sector and a leading Public Sector Enterprise in India, witnessed a remarkable 13 per cent surge in its share price on Wednesday, marked by the formation of a Bullish opening marubozu candle. What's more, the day's trading volume on the National Stock Exchange (NSE) was nothing short of remarkable, with a staggering 1.93 crore shares changing hands – the highest single-day trading volume recorded since October 13, 2023.

For a deeper look into this stock, it's worth noting that the promoter of GMDC is none other than H E The Governor Of Gujarat, who holds a substantial 74 per cent stake in the company, equivalent to a whopping 235,320,000 shares. As a result of Wednesday's absolute gains, with each share surging by Rs 41, H E The Governor Of Gujarat reaped an astonishing profit of Rs 9,64,81,20,000 in a single day.

Turning our attention to GMDC's performance over the past year, the stock has delivered nothing short of a multibagger return, with an impressive 133 per cent surge. This remarkable growth further cements GMDC's position as a stock worth keeping a close watch on.

Disclaimer: The article is for informational purposes only and not investment advice.